(Reuters) - The Dow Jones Industrial Average sailed past the 25,000-mark for the first time on Thursday, while other major indexes rose to new highs after a strong private jobs report added to a bullish sentiment from indications of robust growth in major economies.The ADP National Employment Report showed that U.S. private employers added 250,000 jobs in December, marking the biggest monthly incr...Read More
• Renewed USD selling pressure helps regain traction. • Surging US bond yields now seemed to cap gains. • ADP report might now provide a fresh trading impetus. Gold recovered early lost ground $1306 area and refreshed session tops in the past hour, albeit lacked any strong follow-through momentum. The precious metal stalle...Read More
WASHINGTON (Reuters) - President Donald Trump has threatened his former chief strategist Steve Bannon with legal action over “defamatory” statements in a new book about a meeting Trump’s son and son-in-law held with Russians during the 2016 U.S. presidential campaign.Charles Harder, Trump’s personal lawyer, said on Thursday he also will seek to block Tuesday’s schedul...Read More
NEW YORK (Reuters) - President Donald Trump is ramping up calls on the U.S. Congress to stop legal immigrants from sponsoring extended family members who want to move to the United States, saying so-called “chain migration” poses a threat to national security.Even without legislative action, however, the number of immigrants approved for family-based visas has dropped this year to the...Read More
MOSCOW (Reuters) - Russia considers a U.S. proposal for an extraordinary meeting of the U.N. Security Council on the turmoil in Iran “harmful and destructive”, RIA news agency cited Russian Deputy Foreign Minister Sergei Ryabkov as saying on Thursday.“We see no role for the United Nations Security Council in this issue,” he said, according to the agency. “Iran’s...Read More
Yesterday, the minutes of the FOMC December meeting were released. What do they say about the Fed's stance and what do they mean for the gold market?The Fed is divided over number of hikes in 2018At the December meeting, the U.S. central bank increased the federal funds rate by a quarter percentage point to a range 1.25-1.50 percent. The move was widely expected by investors, but there was no unan...Read More
(Kitco News)- Mining companies need to embrace “disruptive” technologyto make the sector more compelling to younger investors and attract newcapital, according to one mining executive.LuisCanepari, vice-president of technology at Goldcorp (NYSE:GG, TSX:G, saidin a recent interview with Kitco News, that there are a lot of companies doingamazing things with technology that can be ad...Read More
WASHINGTON/SEOUL (Reuters) - U.S. President Donald Trump on Thursday called potential talks between North and South Korea “a good thing” and the South Korean presidency said he had agreed there would be no military drills with South Korea during next month’s Winter Olympics.South Korea’s Presidential Blue House said Trump told South Korea’s President Moon Jae-in in a...Read More
(Kitco News) - Gold prices have erased early losses to trade modestly upon the day, in late-morning action Thursday. Given the bullish technicalposture of the gold market, at present, traders stepped in to buy the dip inprices, while reckoning there is more on the upside for the yellow metal in thenear term. The outside markets are also in a bullish daily posturefor the precious metals today, as t...Read More
JEFF DESJARDINS on January 4, 2018Courtesy of: Visual CapitalistIn 1989, the idea for the exchange-traded fund (ETF) was born.Initially marketed to investors as Index Participation Shares, this innovative new product was meant to be a proxy for the S&P 500 that also traded on an exchange like a stock. After being launched, this early ETF prototype was immediately targeted by lawyers of the Chicag...Read More
WASHINGTON (Reuters) - The U.S. Justice Department on Thursday will rescind a marijuana policy begun under Democratic former President Barack Obama that eased enforcement of federal laws as a growing number of states and localities legalized the drug, a source familiar with the matter said.The Obama-era policy, outlined in 2013 by then-Deputy Attorney General James Cole, recognized marijuana as a...Read More
(Adds details throughout on stocks and sectors; updates prices)TORONTO, Jan 4 (Reuters) - Canada's main stock index was little changed on Thursday as the financial and industrial groups climbed, while shares of energy and marijuana producers pared some recent gains.* At 10:46 a.m. EST (1546 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 0.1 of a point to 16,371.65. It touched...Read More
BOSTON/NEW YORK (Reuters) - High winds and heavy snow barreled into the U.S. Northeast on Thursday, closing schools and government offices and disrupting travel as work crews scrambled to clear roads before plummeting temperatures turn snow into treacherous ice.Thousands of flights were canceled, snow plows and salt trucks were omnipresent on roads and highways, and commuters who braved the storm...Read More
ANKARA (Reuters) - Turkey on Thursday condemned the U.S. conviction of a Turkish banker for evading Iran sanctions as unprecedented meddling in its internal affairs, pushing back against a case that President Tayyip Erdogan has cast as a political attack.Wednesday’s court decision capped a trial that had strained diplomatic relations between the two countries and is likely to further aggrava...Read More
Steven ScheerJERUSALEM (Reuters) - Israel may ban from trading on the Tel Aviv Stock Exchange companies whose main business revolves around bitcoin and other cryptocurrencies, the Israel Securities Authority (ISA), the country’s markets regulator, said on Thursday.The regulator has proposed an amendment to exchange rules that would prohibit it from listing shares issued by companies that mai...Read More
Retail stocks are in focus today, as a number of companies release holiday sales numbers. The results aren't earning any accolades on Wall Street, though, with department store names J C Penney Company Inc (NYSE:JCP) and Macy's Inc (NYSE:M), as well as Victoria's Secret parent L Brands Inc (NYSE:LB) all slumping in early trading. Here's a closer look at how shares of JCP, M, and LB are performing...Read More
(Kitco News) - Kitco aficionados, it isnow time to have your say in where you think gold prices are heading in theshort-term.Will gold prices go higher, lower or remain unchanged nextweek? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12PM EDT) along with the results fromour market professional survey.Readers can also se...Read More
LONDON (Reuters) - The dollar dipped on Thursday, unable to hold onto gains made the previous day on the back of upbeat U.S. data and minutes from the Federal Reserve, as the euro resumed a rally that has taken it close to its highest levels in three years.The dollar index, which measures the currency against a basket of six major rivals .DXY, had slipped to its lowest since Sept. 20 on Tuesday, a...Read More
Source: BullionStarThroughout gold rush and gold mining history, the discovery of a large gold nugget is a phenomenon which always causes excitement throughout a mining community as well as capturing the wider public's imagination. It has probably something to do with so much gold being found at the same time, often with relative ease.Gold nuggets can be found in alluvial deposits (sediments for...Read More
Drug concern Teva Pharmaceutical Industries Ltd (NYSE:TEVA) stock is on the rise, after receiving an upgrade to "buy" from "neutral"from brokerage firm Citigroup. TEVA stock also scored a price-target hike to $24 from $16 -- a 50% increase -- as analysts continue to wax optimistic on Teva's job cuts and and dividend suspension plans. In notes to clients, Citigroup said it prefers "to move off the...Read More